Finland23 Sep 2013
Finland, like many of the world’s most advanced economies, is currently undergoing a series of challenges in the form of diminishing exports, lacklustre consumer demand, rising jobless figures and government-mandated fiscal tightening.
Though a small country - Finland has a population of around 5.4 million - its economy is highly advanced. It has a strong financial sector supported by Nordic bank groups that have managed to avoid the more serious problems that hit banks elsewhere especially in Western Europe during the financial crisis.
Of significance, Finland is alone in the Nordic region in being a member of the eurozone, and this has been felt through restrictions on state spending, while at a corporate level it has benefited from a lower cost of capital courtesy of an accommodative monetary policy directed by the European Central Bank.
This Country Survey aims to provide a balanced view of the equipment finance and auto leasing market in Finland. The survey covers the following areas:
- A summary of leasing activity in Finland;
- The current economic climate and the incentives for and constraints on doing business in Finland;
- Key comment from senior industry figures on the outlook, challenges and opportunities;
- The latest developments in taxation and how these reforms affect leasing;
- And the basic requirements regarding accounting for leases.